A. N0.5m
B. N1.5m
C. N2.6m
D. N8.0m
Correct Answer:
Option A – N0.5m
Explanation
MPC is a proportion of an aggregate raise in pay that a consumer spends on the consumption of goods and services, as opposed to saving it.
Investment expenditure = 2,000,000
MPC = 0.75
0.75 x 2,000,000 = 1,500,000
change in income = 2,000,000 – 1,500,000 = 500,000
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